October 31, 2007

The 60-billion in tax cuts that the Harper government introduced in yesterday’s fiscal update are nothing short of astounding. We’ve got another percent shaved off the GST, a larger bracket for non-taxable earnings which roughly translates to an additional $400 in my pocket, not to mention significant corporate tax cuts, which I don’t really give a shit about, regardless of the fact that they’ve been implemented to soften what will be a slowing economy. Additionally, roughly 10 of the remaining 11 billion or so surplus dollars will go to paying our national debt, leaving the government with something like 1.5 billion dollars to sit on.

Now this is all great and dandy. From the average citizen’s point of view. It somewhat compensates for the swelling dollar and the complete lack of consumer goods price adjustment, as well as making up for being taxed to the point of biweekly visits to the hospital as a result of a sore and swollen asshole. (Healthcare: You need it because they make you need it.) At the end of the day, having more money is good, right?

Maybe. But how’s all of this being paid for? Am I to believe that the Conservative government, in power for just over a year, is so fiscally responsible that they can implement these cuts without pulling money from somewhere else? In a time of war and military expansion? No. And neither should you. These cuts have to be funded somehow, and I suspect that these surplus numbers are somewhat based on inflated economic forecasts.

Hell, even if the numbers aren’t fudged, we still have an enormous set of problems to deal with at all levels of government that dropping huge wads of cash doesn’t seem to be the smart thing to do. Time will tell, I suppose.